DMP & Mutual Support Thread - Part 9

TimeToDoIt

Also, is a DMP only for unsecured creditors?
My last mortgage payment didn't go through

Time_to_face_the_music

spiffyiffy wrote: »

Co-op are'nt linked with ayone are they?

I was thinking of opening a Metro bank account as I dont think they are linked to anyone.

I have never heard of Metro bank, are they new?

TimeToDoIt wrote: »

Also, is a DMP only for unsecured creditors?
My last mortgage payment didn't go through

Hi TimeToDoIt and welcome :hello:

Yes a DMP is for unsecured debt only. Stepchange will tell you that it's a priority to get your secured debt up to date, together with any other arrears, e.g. gas, electricity, other utilities etc.

The best idea would probably be to make token payments for a few months to allow you to get back on track with mortgage. This also helps you practice your budget and often encourages defaults.

TTFTM x

Kate_fixing_it

TimeToDoIt wrote: »

Oh Kate thank you

Is it weird that every kind response makes me want to cry ?? I guess it is a little bit of relief!

Bless you (you've got me welling up now - I'm such a softie!) I think it's safe to say you are completely normal, whatever that is. I was/am exactly the same.

This is just the release of stress. You have been on a knife edge for so long, undoubtedly living on adrenaline. That's not healthy and all the tension is coming out now. I wish I could give you a great big hug but I think that'd push us both over the edge! No shame in letting it out, pop DIY SOS on the TV and you'll clear it all out

The irony of it is I was almost completely devoid of outwardly apparent emotion pre-LBM, the week/month of my LBM the dam broke and now I'm an open book and I'm much nicer to be around.

Kate x

spiffyiffy

Time_to_face_the_music wrote: »

I have never heard of Metro bank, are they new?

Yes they are but don't know how long the've been running; https://www.metrobankonline.co.uk/ I just thought they are not affiliated with anyone so maybe good to go to them.

Kate_fixing_it

spiffyiffy wrote: »

Yes they are but don't know how long the've been running; https://www.metrobankonline.co.uk/ I just thought they are not affiliated with anyone so maybe good to go to them.

They're relatively new (set up 2010) but appear to be independent. My only concern would be that they only have branches in London and a time may come when you move away from the area to reduce living costs or for work and it might be difficult to get to a branch. Definitely worth doing a bit of research about how they were set up and who funded it as that seems a bit vague on their website and the last thing you need is for them to offset when you are doing your best to get out of debt.

Kate x

ETA I'm wrong, there are branches outside London but only as far as Milton Keynes so far

Sinhanada

I found being with Stepchange superb and I couldn't sing their praises high enough. You'll find that most creditors work with them really well and are very understanding. The reason I think is that you have made that important step and are not running away from your finances.

Good luck on your journey. It is a hard path, but so definitely worth it!

Monkeyballs

TimeToDoIt wrote: »

Oh Kate thank you

Is it weird that every kind response makes me want to cry ?? I guess it is a little bit of relief!

Kate_fixing_it wrote: »

Bless you (you've got me welling up now - I'm such a softie!) I think it's safe to say you are completely normal, whatever that is. I was/am exactly the same

NO! NO! NEVER!!!!

You must be hard and bitter to take on your debts... ever seen the movie 300? Be like the Spartans! SPARTA!!!!!!

LOL not really, I'm a burly 38 year old man and reading peoples posts of support always makes me smile (never well up, SPARTA!!! SPARTA!!!).

You venture away from the DFW forum on this site and we're all considered fluffy huggies (or whatever they call us LOL) but so what? :j

MB

spiffyiffy

Kate_fixing_it wrote: »

They're relatively new (set up 2010) but appear to be independent. My only concern would be that they only have branches in London and a time may come when you move away from the area to reduce living costs or for work and it might be difficult to get to a branch. Definitely worth doing a bit of research about how they were set up and who funded it as that seems a bit vague on their website and the last thing you need is for them to offset when you are doing your best to get out of debt.

Kate x

ETA I'm wrong, there are branches outside London but only as far as Milton Keynes so far

I agree, but I have one where I live 5 minutes away so i thought that might be easier for me.

Is Co-Op affiliated with anyone, as I'm tempted to just open an account with them and move over. I have just cancelled my Nationwide account but may just open another one with them again.

Kate_fixing_it

Monkeyballs wrote: »

NO! NO! NEVER!!!!

You must be hard and bitter to take on your debts... ever seen the movie 300? Be like the Spartans! SPARTA!!!!!!

LOL not really, I'm a burly 38 year old man and reading peoples posts of support always makes me smile (never well up, SPARTA!!! SPARTA!!!).

You venture away from the DFW forum on this site and we're all considered fluffy huggies (or whatever they call us LOL) but so what? :j

MB

:rotfl: :rotfl::rotfl:

I am hard on faceless companies and sticking up for myself and my own (god help anyone who criticises my kids ) but I've definitely become more "fluffy huggy" since my LBM. That said, the same thing asked over and over by the same person or pigheadedly refusing to accept good, sensible advice really gets on my nerves. As does lying/bending the truth. I usually try to skip over those posts, they're usually very obvious as opposed to those that have the light on a dimmer switch and it's gradually getting brighter.

The simple fact is that if you do nothing the debt will go nowhere. The very fact that we're all doing something (anything!) means IMO that we all deserve a pat on the back/big squishy hug/manly fist-bump as appropriate.

And you're not THAT tough MB ! Your posts are always phrased with enough sympathy to be kind but enough honesty to be helpful and always blatantly honest. And all that when I know you are suffering physically - a lot more than I manage!

Kate x

Kate_fixing_it

spiffyiffy wrote: »

I agree, but I have one where I live 5 minutes away so i thought that might be easier for me.

Is Co-Op affiliated with anyone, as I'm tempted to just open an account with them and move over. I have just cancelled my Nationwide account but may just open another one with them again.

Might be a question for the main board. I listed my creditors and asked for recommendations for the three banks I was considering and it really helped. One was a definite no (to my surprise) and co-op got better reviews than the other.

Definitely worth asking

Kate x